Microsoft started 2020 with a bold plan: become carbon negative by 2030. Now it's announced a new coalition of global companies with the goal of catalyzing the shift away from fossil fuels.
"This has to be about much more than just Microsoft," Lucas Joppa, chief environmental officer at Microsoft, told Cheddar. "This has to be about leading companies across the private sector coming together to work on this challenge."
The industry and continent-spanning coalition, dubbed Transform to Net Zero, includes Maersk, Danone, Mercedes-Benz AG, Microsoft, Natura & Co, Nike, Starbucks, Unilever, and Wipro.
"What we're focusing on is going beyond making commitments," he said. "We need all companies to make meaningful, significant climate commitments. But those of us that have made those commitments, now it's time to get to work."
One shared goal of the group will be to develop playbooks based on their experiences decarbonizing, which they can then share with other companies unsure of how to proceed.
Microsoft's short-term goal is to remove 1 million metric tons of carbon from the environment within the year. It began the process this week by issuing what it calls a "groundbreaking" request for a proposal to source technology and nature-based carbon removal solutions from other firms.
Another piece of Microsoft's climate plan is switching its data centers to renewable energy sources. The company is partnering with Sol Systems, energy developer and investor, to build that capacity in communities that have been disproportionately impacted by pollution.
This will be the first major investment from the company's $1 billion Climate Innovation Fund that launched in January.
The partnership aims to add 500 megawatts to Microsoft's renewable energy portfolio, which already has approximately 1.9 gigawatts, according to Joppa. Microsoft says 500 megawatts would provide enough energy to power 70,000 U.S. homes.
Joppa said Microsoft is shooting for 100 percent renewable energy by 2025.
As Microsoft attempts to drive change in the corporate sector, Joppa is still banking on the public sector to step up with new regulations to combat climate change.
"It can't just be about us," Joppa said. "I believe that we need a much more level playing field. We need everybody to be required and incentivized to go and operate in this space, to move everybody's business practices to net zero by 2050. Ultimately we're going to need regulation and policy to get us there."
Phyllis Newhouse, the first black woman to bring a company public via SPAC on the NYSE earlier this year, has launched her second SPAC, ShoulderUp Technology Acquisition.
Phyllis is a serial entrepreneur, retired military officer, and founder of the ShoulderUp movement, which educates and encourages women around the world to reach their greatest economic, political and cultural potential. Shawn Henry is part of the ShoulderUp team, bringing his expertise on cybersecurity to the new company. Both Phyllis and Shawn joined Cheddar to discuss this new venture and how it plans to tackle the issue of cybercrime.
Don Basile, CEO, Monsoon Blockchain & Founder of Bitcoin Latinum, joins Cheddar News' Closing Bell, where he explains why we're seeing major crypto investors look to purchase expensive pieces of art, and discusses what the NFT space could look like in the not-too-distant future.
Jack Constantine, chief digital officer and product inventor at Lush, joined Cheddar to talk about the cosmetic company's mass exodus from major social media platforms TikTok, Facebook, Instagram, and Snapchat, in the wake of recent reports that Instagram specifically had negative impacts on teen girls. He noted that with teenage girls being a large part of its consumer base and audience, Lush had a responsibility to market its company on outlets that prioritize mental wellbeing. "For us, we've always been a social brand, and it started to feel that social media was no longer offering what we felt we wanted to gain from it," he said. "And then obviously when you add that to the damage that it's causing, it just feels like a combination that we can't continue on with." The company also pulled out of social media platforms in 2019.
Jon Lowen, Co-Founder of Surfside, joined Wake Up With Cheddar's Baker Machado to discuss Uber's partnership with cannabis retailer Tokyo Smoke, as it's the first time a cannabis merchant has been listed on UberEats across all of its global markets.
Jack Dorsey resigned from his post as CEO of the social media company on Monday and will be replaced by chief technology officer Parag Agrawal. Mitch Rubin, portfolio manager at RiverPark Long/Short Opportunity Fund, joined Cheddar to break down the move and what it means for investors in both Twitter and Square, the payment company that Dorsey also helms. "For the long-term, I think this is very positive news for both companies," he said. Rubin also talked about growing competition in the social media space and why Twitter continues to lag behind other major players.
Jack Dorsey is officially out as Twitter's CEO. Dorsey said in a statement that the platform is ready to move away from its founders and now will be led by current CTO Parag Agrawal.
The ocean is an important topic when it comes to the climate. It plays a vital role in shaping our environment, with rising sea levels causing a 35% increase in natural disasters around the world, affecting 1.7 billion people. Dr. Sylvia Earle has been called perhaps the greatest advocate our oceans have ever had, with Time magazine dubbing her its first 'hero of the planet' and the Library of Congress naming her a living legend. She is also the founder of Mission Blue, an organization that inspires action to explore and protect the ocean. Dr. Earle joined Cheddar Climate for more on the importance of caring for the ocean and its impact on climate change.
